Writea paper on how COVID-19 has currently affected the economy from a macroeconomics point of view. Areas that need to – 24/7 ASSIGNMENT HELP

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  • You will be putting together a paper on how COVID-19 has currently affected the economy from a macroeconomics point of view.
  • Areas that need to be addressed are as follows (these are also your discussion board prompts):
    • After reading about supply and demand, given stories on the news, articles in the newspapers or online, and what you have experienced in retail locations, what examples of supply and demand shifters have you seen resulting from the coronavirus? What is causing an increase or decrease in supply or demand? Give specific examples of goods and services with two examples for a supply shifters and two examples of a demand shifter. 
    • Pick an industry or type of business (agriculture, manufacturing, restaurants, etc). After reading about GDP, how do you believe coronavirus has effected the chosen business or industry in terms of production? Then looking at the bigger picture, what do you believe has happened to GDP in the U.S. (overall increase or decrease) in the last 6 months and what do you think will happen to GDP through the end of the year due to changes in the current environment? Explain your answer using class terms and referring back to class topics. 
    • We looked at business cycles, unemployment rates, and the types of unemployment. Given how coronavirus has effected the U.S., what has happened to the unemployment rate since the beginning of the year? What do you expect to happen to the unemployment rate in the next few months? What types of unemployment do you think people are most facing currently and why? And lastly, what phase of the business cycle do you think we are currently in and why? Do you think this will change in the near future?  
    • Based on the current COVID-19 situation, how have inflation rates changed since the beginning of the year? What type of inflation do you feel we are facing? Given the continuous changes that are occurring what do you anticipate will happen to inflation rates in the near future?  
    • We looked at consumer spending and how it is important when there is a downturn in the economy. At the beginning of the April stimulus payments were made to most individuals for $1,200 with specific income limitations and additional payments for dependents. Do you think most people who received the payments spent that money or saved it? Why did the government do this (just stating to help the economy will not get credit)? Describe the process/changes that would occur throughout the economy if consumers spent the stimulus payments in relation to what we covered in chapter 9 using class terms. 
    • Early in the year, the Federal Reserve took action by lowering the target on the federal funds rate to almost 0 at .25%. Given the circumstances, why did the Federal Reserve do this and what were they hoping would be the outcome from implementing this rate? What else could the Federal Reserve do in terms of monetary policy that we looked at? Do you agree with the Fed cutting rates to almost 0% and why or why not?

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